Insider Selling: United Bankshares, Inc. (NASDAQ:UBSI) Director Sells $200,000.00 in Stock

United Bankshares, Inc. (NASDAQ:UBSI) Director Peter A. Converse sold 5,000 shares of United Bankshares stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $40.00, for a total value of $200,000.00. Following the completion of the sale, the director now owns 434,769 shares in the company, valued at approximately $17,390,760. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

United Bankshares Stock Up 0.7 %

Shares of NASDAQ:UBSI opened at $41.64 on Friday. The stock has a fifty day simple moving average of $37.45 and a two-hundred day simple moving average of $35.44. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of 15.77 and a beta of 0.98. United Bankshares, Inc. has a 12-month low of $29.19 and a 12-month high of $42.95. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.11.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.03. United Bankshares had a return on equity of 7.58% and a net margin of 22.05%. The firm had revenue of $414.67 million during the quarter, compared to analysts’ expectations of $260.30 million. During the same quarter in the previous year, the business earned $0.71 earnings per share. On average, research analysts anticipate that United Bankshares, Inc. will post 2.73 earnings per share for the current fiscal year.

United Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.55%. The ex-dividend date was Friday, September 13th. United Bankshares’s dividend payout ratio is currently 56.06%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC raised its stake in shares of United Bankshares by 218.2% in the second quarter. SG Americas Securities LLC now owns 29,676 shares of the financial services provider’s stock worth $963,000 after purchasing an additional 20,350 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in United Bankshares by 77.8% during the first quarter. BNP Paribas Financial Markets now owns 69,932 shares of the financial services provider’s stock valued at $2,503,000 after purchasing an additional 30,590 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in United Bankshares by 37.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 51,455 shares of the financial services provider’s stock valued at $1,811,000 after purchasing an additional 14,080 shares during the period. Ontario Teachers Pension Plan Board bought a new stake in United Bankshares during the first quarter valued at about $901,000. Finally, Earnest Partners LLC grew its holdings in United Bankshares by 1.8% during the second quarter. Earnest Partners LLC now owns 4,253,797 shares of the financial services provider’s stock valued at $137,993,000 after purchasing an additional 74,638 shares during the period. Hedge funds and other institutional investors own 70.80% of the company’s stock.

Analyst Ratings Changes

UBSI has been the topic of a number of recent analyst reports. StockNews.com lowered United Bankshares from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods lifted their price target on United Bankshares from $38.00 to $40.00 and gave the company a “market perform” rating in a research report on Friday, July 26th. Stephens lifted their price target on United Bankshares from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Finally, DA Davidson lifted their price target on United Bankshares from $36.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $40.25.

About United Bankshares

United Bankshares, Inc, through its subsidiaries, primarily provides commercial and retail banking products and services in the United States. It operates through two segments, Community Banking and Mortgage Banking. The company accepts checking, savings, and time and money market accounts; individual retirement accounts; and demand deposits, statement and special savings, and NOW accounts.